{"id":78288,"date":"2020-09-30T02:12:05","date_gmt":"2020-09-29T23:12:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/maybe-now-de-blasio-cuomo-will-start-trying-to-save-nys-economy\/"},"modified":"2020-09-30T02:12:05","modified_gmt":"2020-09-29T23:12:05","slug":"maybe-now-de-blasio-cuomo-will-start-trying-to-save-nys-economy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/maybe-now-de-blasio-cuomo-will-start-trying-to-save-nys-economy\/","title":{"rendered":"#Maybe now de Blasio, Cuomo will start trying to save NY\u2019s economy?"},"content":{"rendered":"

“#Maybe now de Blasio, Cuomo will start trying to save NY\u2019s economy?<\/strong>”
\n<\/p>\n

\n Now that The New York Times has finally noticed<\/a> that the city economy \u2014 and public finances \u2014 is in rapid freefall, maybe Gov. Andrew Cuomo and Mayor Bill de Blasio will, too.<\/p>\n

Tuesday, the Gray Lady warned that COVID is \u201cpushing New York into a financial abyss.\u201d The city \u201cwill face an extended financial crisis, the likes of which has not been seen since the 1970s,\u201d it said.<\/p>\n

Ha! We\u2019ve been flagging that for months.<\/p>\n

Because City Hall spends so much per resident (more than every one of the nation\u2019s largest 100 cities, except DC and San Francisco), it\u2019s critically reliant on tax revenue spun off by the economy \u2014 much of which remains shut more than six months after COVID broke out.<\/p>\n

The state still has a million fewer jobs than before the virus, the Utica Observer-Dispatch reports<\/a>, making it the second-slowest to recover. In the city, joblessness is twice as high as elsewhere.<\/p>\n

\u201cThis is price you pay\u201d for extra COVID restrictions, notes SUNY economics chairman Adrian Masters. Those restrictions have the hotel and restaurant sectors, which account for a quarter of the lost jobs, still running far below capacity.<\/p>\n

Monday, city restaurants staged a \u201cwake\u201d to protest: \u201cWe\u2019re the walking dead\u201d if we don\u2019t get relief, one owner said. In all, Bloomberg reports, 6,000 businesses have closed; bankruptcies are up 40 percent.<\/p>\n

Yet Cuomo and de Blasio focus solely on holding down COVID cases. They think they can let the economy die and their own finances flounder (the city faces a $9 billion hole; the state, $14.5 billion) \u2014 and then just blame President Trump for not saving them. Indeed, both are now hinting of new restrictions.<\/p>\n

Yet to spare public workers the pain private ones face, they refuse to curb spending on anything like the needed scale.<\/p>\n

Everyone\u2019s hoping for a vaccine to solve everything. But until one proves safe and effective, people need to work, and the government needs to balance its books.<\/p>\n

If the Times can see that, even the politicians should be able to recognize it.\n <\/p><\/div>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Maybe now de Blasio, Cuomo will start trying to save NY\u2019s economy?” Now that The New York Times has finally noticed that the city economy \u2014 and public finances \u2014 is in rapid freefall, maybe Gov. Andrew Cuomo and Mayor Bill de Blasio will, too. Tuesday, the Gray Lady warned that COVID is \u201cpushing New…<\/p>\n","protected":false},"author":1,"featured_media":78289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/09\/081220nychomeless22MATT.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[73426,70430,5042,70344,5069,43,5079],"class_list":["post-78288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-29-20","tag-andrew-cuomo","tag-bill-de-blasio","tag-coronavirus-in-ny","tag-economy","tag-editorial","tag-new-york-times"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/78288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=78288"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/78288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/78289"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=78288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=78288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=78288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}